Overall excellent performance of SAP AG last year was not enough to abate investor disappointment as they dumped shares of the German business software maker after the company missed its target earnings by a slim margin and failed to keep up with rival Oracle.
SAP’s revenues grew 12 per cent to 5.06 billion euros or US$ 6.8 billion, below analyst forecast of 5.17 euros, the SiliconValley.com reported. By contrast, the company’s biggest rival, Oracle, ported a 17 per cent jump in software revenue.
Shares of SAP slipped by 3.8 per cent yesterday and traded as low as 57.77 euros, its lowest in two months, the report said.
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